Jade Biosciences, Inc.
JBIONasdaqHealthcare · Pharmaceutical Preparations · DE · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — |
| Operating income | −$113.5M | −$74.6M | −$81.4M | −$53.2M | −$23.0M | −$8.9M |
| Net income | −$127.4M | −$69.6M | −$75.5M | −$51.5M | −$23.0M | −$9.6M |
| Total assets | $349.8M | $80.3M | $127.4M | $135.3M | $175.4M | $4.7M |
| Total liabilities | $17.3M | $3.9M | $18.0M | $8.6M | $2.9M | $1.8M |
| Equity | $332.5M | $76.4M | $109.5M | $126.7M | $172.4M | −$13.3M |
| EPS (diluted) | $-3.19 | $-2.44 | $-2.87 | $-2.10 | $-1.87 | — |
| Shares out. | 29.0M | 27.9M | 24.8M | 24.4M | 24.4M | 243,076 |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- —
- Net margin
- —
- Return on equity
- −38.3%
- Return on assets
- −36.4%
- Return on capital (ROCE)
- −34.1%
- Liabilities / assets
- 4.9%
- Debt / equity
- 0.05×
- Book value / share
- $11.47
- Revenue growth (YoY)
- —
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- 22.65safe
- Accruals / assets
- −9.4%clean
- Piotroski F-Score
- 3/7weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 1 warning● 3 good- Negative operating cash flow
- Conservative leverage (liabilities < 50% of assets)
- Clean earnings (low accruals)
- Altman Z″ in the safe zone
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Clinical trials
ClinicalTrials.gov · ongoing · next readout first- Phase 1Active Not Recruitingreadout ~2026-10A Phase 1 Study of JADE101 in Healthy Participants
- Phase 1Recruitingreadout ~2027-05A Single Dose, Phase 1 Study of JADE101 in Healthy Japanese and Chinese Participants
- Phase 1Recruitingreadout ~2027-10A Phase 1 Study of JADE201 in Participants With Rheumatoid Arthritis
- Phase 2Recruitingreadout ~2029-01A Study of JADE101 in Participants With Immunoglobulin A Nephropathy
Interventional studies led by this company. “Readout” is the trial's primary-completion date — an estimate the sponsor reports, not a guarantee.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Janus Henderson Group PlcPassive (13G)May 15, 2026
- Blackrock, Inc.Passive (13G)Apr 27, 2026
- Sofinnova Venture Partners X, L.P.Activist (13D)Mar 5, 2026
- Venrock Healthcare Capital Partners Iii, L.P.Passive (13G)Feb 17, 2026
- Bellevue Group AgPassive (13G)Feb 17, 2026
- Deep Track Capital, LpPassive (13G)Feb 13, 2026
- Vanguard Group IncPassive (13G)Jan 30, 2026
- Frazier Life Sciences Public Fund, L.P.Passive (13G)Nov 14, 2025
- Ra Capital Management, L.P.Activist (13D)Oct 16, 2025
- Fairmount Funds Management LlcActivist (13D)Oct 8, 2025
- Fmr LlcPassive (13G)Jun 6, 2025
- Tcg Crossover Gp I, LlcPassive (13G)May 15, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Dahms Bradford D.Officer — Chief Financial Officer | Feb 12, 2026 | Grant | 37,813 | $0.00 |
| Balta ElizabethOfficer — See Remarks | Feb 12, 2026 | Grant | 28,125 | $0.00 |
| Frohlich TomOfficer — Chief Executive Officer | Feb 12, 2026 | Grant | 78,750 | $0.00 |
| King Andrew JamesOfficer — See Remarks | Feb 12, 2026 | Grant | 41,250 | $0.00 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 3.4M | 7.7 | +9.7% |
| Apr 30, 2026 | 3.1M | 4.0 | +1.2% |
| Apr 15, 2026 | 3.1M | 3.8 | +144.6% |
| Mar 31, 2026 | 1.3M | 2.3 | -18.4% |
| Mar 13, 2026 | 1.5M | 4.4 | -1.7% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Regulation FD disclosure · Other material eventJun 1, 2026
- Results of operationsMay 7, 2026
- Director / officer changeApr 22, 2026
- Director / officer changeApr 2, 2026
- Results of operationsMar 6, 2026
- Results of operations · Regulation FD disclosureJan 5, 2026
- Entered a material agreement · Unregistered equity sale · Regulation FD disclosureDec 15, 2025
- Results of operations · Other material eventNov 14, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗Event-driven situations (2)
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